RE:RE:RE:RE:Everyone favorite d_trump wrote: the problem with BTE is that for every month oil is below 50, their balance sheet erodes further because while under $50 their production continues to fall. So their cash flow relative to their debt is worsening. So the longer we stay under $50, the higher oil needs to get to for BTE's share price to recover. So I don't disagree with Eric that BTE now needs $60.
Exactly, and although their costs are dropping, as the debt comes closer and closer every year its going to take higher and higher oil in order for them to be able to make the payments... 2017 they likely do need 60 oil and 2018 maybe $65 and 2019 $70, etc.. Maybe more, this is just an example.